Beyoncé partners with Adidas, will re-launch Ivy Park line

MarketsAssociated Press

Beyoncé has announced a new collaboration: a creative partnership with Adidas.

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The pop star on Thursday says she will develop new footwear and apparel for the brand. Beyoncé is also planning to re-launch her activewear clothing line, Ivy Park, with Adidas.

The Grammy-winning superstar says in a statement that she and the company "share a philosophy that puts creativity, growth and social responsibility at the forefront of business."

She also calls the collaboration "the partnership of a lifetime for me."